The Capital Gains tool can be found within the client profile and accessed by clicking on the 'Capital gains' tab.
This is also available through the platform, via the /Account/summary & /Portfolio/summary & /Position endpoints.
Capital Gains - overview of key features
Reporting period
Users can select a reporting period using the date range filter. If a range is not selected, the report will default to the current tax year.
Realised and unrealised gains
The CGT module calculates both realised and unrealised gains that apply to a given date range for all GIA accounts held by a client.
Realised gains shows the sum of the difference between the value of assets at the time of disposal and their book cost for all disposals in the date range selected. Unrealised gains shows the difference between the value of assets that are still held in a portfolio as of the end date of the date range and their book costs.
Matching rules
We apply matching using the HMRC rules outlined here. At present, we support matching at an account-ISIN level, this means we do not support matching across accounts for the same asset (e.g. if you hold Apple stock in two different GIAs, we will not match across these GIAs), we also do not support matching across ISINs (e.g. when a new ISIN is created as part of a corporate action).
You can view which transactions have been matched via the 'Matched' column in the platform.
We do not apply matching across off-platform accounts.
What is still to come and unsupported features
Downloading the report (currently in development)
This feature will be delivered in the near future. Users will be able to download all of the information provided by the CGT tool as an Excel file.
Managing 'from' and 'to' dates for the offshore reporting flag
We support all offshore reporting funds that have maintained this status since 06/04/2023. In subsequent releases, we will include historical management of this flag and its use for CGT calculations.
Offshore non-reporting funds
At the moment, we do not support CGT calculations for positions maintained in offshore non-reporting funds. However, this will be made available in subsequent releases.
Excess reporting income (ERI) and adjustments to book costs
UK investors are taxed on their full share of reportable income, even if it hasn't been distributed. The difference per unit between your reportable income and the income distributed to you is known as ‘excess reported income’ (ERI).
Our tool currently supports offshore reporting funds, but we don’t provide the ERI data to allow customers to report the appropriate income amount to HMRC, nor do we adjust bookcosts to account for this income.
Supporting matching across ISINs and across accounts
We do not currently support matching across accounts for the same asset or across ISINs.
Further information, disclaimer and alert details can be found within the below link: